A Crash Course for Buying Your First Home
Buying your first home can be scary! You are headed out of your comfort zone; whether you are moving out from mom and dad’s, buying your first home as a married couple or moving to a new city, this next year for you will be full of new experiences. As nerve-racking as it gets, however, buying your first home is one of the most exciting decisions you’ll ever make. To ensure you are prepared for these next steps, we’ve created a crash course to help you navigate this new journey.
Step One: Use the Buddy System
Don’t make this journey alone! The first step to finding the right first home for you is to find someone to help you along the way. Take time on the front end interviewing and researching different Realtors and brokerages until you meet the right person and team for you.
Check out this blog for the checklist to find the perfect Realtor for you. Ensure the agent you choose is licensed, has good reviews, is knowledgeable about the marketing, is a good communicator and appears to be a person you can grow to know and most importantly trust. You will be spending an abundant amount of time with this person for the next few months to a year – take extra time to make sure it is someone you like!
Step Two: Get Pre-Approved
Let’s make this process go as seamlessly as possible. Consider getting a pre-approval for your mortgage. A pre-approval shows sellers you mean business. So when you are in those bidding wars and multiple offer situations, you stand out.
Find a mortgage lender with great rates that you enjoy working with. They will help you with all the paperwork before you even begin looking for houses. Start as soon as possible because tt can take several weeks to get pre-approved. We recommend Shelter Mortgage!
Step Three: Make a List of Wants and Needs for Your First Home
Before you start your search, make a list of wants and needs. Whether it’s an open floor plan, spacious master bathroom with that spa tub or a nice backyard space, write down what is most important for you and what you can’t live without. If moving into a neighborhood in a great school district is the dealmaker or breaker for you, let your Realtor know early.
Keep in mind, however, to be flexible when you look at your wants and needs. The list is important to ensure your top priorities are met, but give homes that don’t meet every item on your checklist a chance. Who knows? You may have an awesome fixer-upper on your hands!
Step Four: Listen to Your Budget
As fun as watching Property Brothers is on HGTV, it’s not quite as fun when it happens to you. Don’t let yourself walk into houses that are way over your budget. Do yourself a favor and set expectations early with your Realtor. Be upfront about your price range and let your Realtor know the number you do not want to cross.
The right Realtor for you will appreciate you setting limits and find you great options in the price range best for you. If your Realtor is constantly trying to push you out of your budget and comfort zone, it may be time to find a new Realtor.
Step Five: Stay Determined
That determination you have right now to find your first home? Keep that spark! The payoff throughout this process will happen when you get the keys to your new home.
The market is hot right now and there are lots of buyers looking to move before summer ends. Stay determined and act fast when you find a home you like. If you don’t get the home you make your first offer on, try and try again! You are bound to find the home of your dreams if you stay determined.
Ready to purchase your first home? Let us help! Click here to learn more.